Account keeping is an activity whereby a financial intermediary shall open securities accounts, record securities transactions and insure custody of assets for its clients. This activity is performed by account Keepers authorized by order of the Ministry of Finance, after the Central Depository recommendation.

The main securities account holders are banks, brokerage firms and issuers.
The scope of their activities covers the following services:

Custody of securities

It involves the custody of the clients’ securities accounts records for inventory management purpose and settlement of transactions. It also includes informing clients of any operation affecting their accounts.

Securities Transactions Operations

It concerns the execution on behalf of clients of various transactions in the context of financial securities trading such as subscriptions to capital increases, the payment of shares dividends and bonds interests etc.

Services offered to issuers

An account keeper can provide services to issuers regarding securities transactions.   The services offered consist in centralizing the management of flow for cash and securities, and of relations with the central depository and of other account holders affected by the transaction. These include operations related to dividends or capital increases.

Discretionary account keeping

An account holder may delegate the activity of accounts keeping with another account holder under a management mandate. This service is also used by issuers who prefer to entrust their accounts management at Maroclear to other account holders, mostly banks.

Record keeping for foreign intermediaries

An account holder can also offer specific services relating to keeping accounts to foreign intermediaries who invest in the Moroccan financial market. These services are tailored to the profile of foreign professionals and require appropriate technical and organizational means.


Custodian Agreement number Agreement date Category
CDG Capital Banque
CDG Capital Bourse 3-25 28/10/1994 Société de bourse
CIH Bank Banque
CitiBank Maghreb Banque
Crédit Agricole du Maroc Banque
Crédit du Maroc Banque
Crédit du Maroc Capital N°03/18 26/06/1995 Société de bourse
ICF Al Wassit N°03/16 28/10/1994 Société de bourse
MediaFinance Banque

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